Benchmark corn futures Cv1 on the Chicago Board of Trade hit their highest in a year on Monday and soybean futures Sv1 notched a three-month top on follow-through buying after the U.S. Department of Agriculture last week cut its estimates of the size of the U.S. 2024 crops, analysts said.
Rains are disrupting the start of Brazil's 2024/25 soybean harvest in Mato Grosso, agribusiness consultancy AgRural said on Monday, adding that the pace of work in the country's biggest farm state is the slowest in seven years.
China imported the most soybeans on record in 2024 as buyers concerned about rising U.S.-China trade tensions rushed to secure U.S. supplies ahead of President-elect Donald Trump's inauguration.
Chicago soybean and corn futures surged on Friday after the U.S. Department of Agriculture projected lower-than-expected U.S. production after a dry end to the growing season.
U.S. biofuels groups are eager for clarity on the tax credits for fuels that combat climate change, which they hope will ultimately provide a pathway for corn-based ethanol to expand its market as a feedstock for sustainable aviation fuel.
The United States Department of Agriculture cut its calls for 2024/25 U.S. soybean and corn production in its World Agricultural Supply and Demand Estimates (WASDE) released Jan. 10.
Chicago soybean and corn futures ticked up on Thursday as traders squared positions ahead of a major U.S. Department of Agriculture supply-and-demand report due on Friday.
China will accelerate the breeding of new soybean and corn varieties and prioritize yield improvements for key grains and oil crops, as part of broad efforts to ensure food security, the agriculture ministry said in a statement late on Wednesday.
Chicago corn, soy and wheat futures dipped on Wednesday as the dollar jumped on uncertainty over U.S. President-elect Donald Trump's tariff plans, and as investors squared positions and awaited supply and demand data from the U.S. Department of Agriculture.